Reading the notes of yesterday's teleconference with people like Mike Harris from Red Hat, fontconfig's Keith Packard and others, it seems that they have decided to actually do fork the XFree86 codebase or at least to create a parallel organization to "demonstrate how a scalable community might work" (they also seem to email eachother in a non-archived mailing list of a sort). They currently looking for a nice, catchy name for the project, but they have registered xwin.org just in case nothing better will come up. Reactions of the teleconference have been recorded at XFree's public mailing list.